Pingdingshan Tianan Coal completes convertible bond fund utilization, closes accounts

Pingdingshan Tianan Coal Mining Company Limited has completed the use of proceeds from its publicly issued convertible corporate bonds. The company successfully issued 29,000,000 convertible bonds with a par value of 100 yuan each, raising a total of 290,000,000.00 yuan. After deducting issuance expenses, the net proceeds amounted to 286,683,910.00 yuan, which were received on March 22, 2023.

The allocated funds were primarily used for the construction and renovation of intelligent coal mines and the repayment of financial institution loans. A total of 30,000,000.00 yuan was allocated for debt repayment, while 256,683,910.00 yuan was designated for intelligent coal mine construction. As of June 30, 2025, the company has cumulatively used 287,453,960.00 yuan of the raised funds, indicating complete utilization.

Following the full deployment of the funds, the company has completed the closure of all three special fundraising accounts. The remaining balance of 74,500.00 yuan in these accounts has been transferred to other bank accounts for the company's daily operations and to supplement working capital. The termination of these accounts also concludes the tripartite supervision agreements signed with Huatai United Securities and the respective banks.